Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Markets: The S & P 500 was hanging on to slight gains in what would be a third straight winning session. Declining bond yields following Wednesday morning’s much weaker than expected private-sector jobs report helped support stocks. The ADP’s monthly look at hiring trends at U.S. companies showed May additions of just 37,000 positions . That was the lowest total from ADP in more than two years. Jim Cramer said earlier Wednesday that if the government’s May nonfarm payrolls growth on Friday comes in as weak as the ADP number, that might be the tipping point for the Federal Reserve to cut interest rates. Further labor market weakness could give Fed Chairman Jerome Powell cover act to boost the jobs side of the central bank’s dual mandate without risking the price-stability side. Last Friday, the Fed’s favorite inflation gauge came in cooler than expected for April despite President Donald Trump’s tariffs. Thus far, Powell has been content to wait on rates and see how trade policy plays out. For what it’s worth, a Fed report out Wednesday showed contraction in the U.S. economy over the past six weeks. Data center deluge: Club name Amazon announced plans to spend $10 billion to construct new artificial intelligence data centers in North Carolina. It’s the latest sign of confirmation that AI data center buildout is continuing apace, which is good news for a host of companies in the portfolio including chipmaker Nvidia, as well as electrical equipment supplier Eaton and GE Vernova , which makes gas and wind turbines used in power generation. The market reaction for these stocks is a mixed bag Wednesday, though it’s hardly any sign of concern, given how strong the AI buildout trade has rebounded off the April lows. Sure, GE Vernova is down a little Wednesday, but it’s coming off a back-to-back record closes to start the week. Meanwhile, Eaton is up almost 1%, building off Tuesday’s 2% advance on the back of Club peer Meta Platform’s AI-related nuclear power commitment. As of this writing, Nvidia, whose market-leading chips are driving the AI boom, is clinging to a modest gain Wednesday, which would be its fourth positive session out of five. Another AI news nugget that caught our eye this afternoon was ChatGPT creator OpenAI saying that it now has 3 million paying business users, which is up from 2 million in February. This is supportive of the idea that AI monetization is gaining traction, which ultimately is what needs to happen for companies to continue pouring billions of dollars into new infrastructure. CrowdStrike disclosure: In its quarterly securities filing Wednesday, CrowdStrike said it is cooperating with the government inquiries into its “recognition of revenue and reporting of [annual recurring revenue] for transactions with certain customers, the July 19 Incident and related matters.” That is a change in language compared to what the company included in its annual report filed with the Securities and Exchange Commission in March. In that filing, the cybersecurity mentioned only inquiries into the July 19 global IT outage sparked by a faulty CrowdStrike software update. What’s new in the filings is the reference to probes into “transactions with certain customers.” This does not appear to be entirely new to investors, though, because earlier this year Bloomberg News reported that the Justice Department and SEC were investigating CrowdStrike’s $32 million deal with software reseller Carahsoft. CrowdStrike CEO George Kurtz assuaged our concerns about this transaction when questions first surfaced in October, saying it was a “non-cancellable” deal. Of course, as investors, it’s not optimal to have to continue monitoring headlines about investigations involving a company we own. However, we continue to feel comfortable with what we know about the Carahsoft situation, and it doesn’t deter our long-term optimism on the stock. The same goes for its quarterly earnings report and guidance issued on Tuesday night, which is the primary reason why shares are down around 5% Wednesday. As Jim said during the Morning Meeting earlier in the session, the market reaction is overblown. Up next: After Wednesday’s close, we’ll get earnings from MongoDB , Five Below , PVH Corp and ChargePoint . On the economic data front, Thursday morning brings the usual weekly jobless claims report. Combined with the weak ADP number, the upcoming release will be especially important after last week’s data showed that recurring jobless claims were at their highest levels since late 2021. It all builds up to the aforementioned jobs report Friday. As of Monday, economists polled by Dow Jones were forecasting that the country added 125,000 jobs last month, down from 177,000 in April. — CNBC’s Morgan Chittum contributed to this story. (See here for a full list of the stocks in Jim Cramer’s Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . 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